Another month, more of the same! Our housing inventory in the valley continues to decrease. I have been working with some people looking at new homes in Peoria and we are experiencing an unbelievable interest in new construction! Subdivisions that are in the process of opening are getting a lot of inquiries about available lots, pricing, etc. This is all coming from the fact that there are so few good re-sale properties available.

       Goodyear at the moment has 383 active listings (368 single family homes), there are 447 under contract and 133 have closed sale in the last 30 days which leaves us a 2.87 month supply of homes so while the number of homes in the Goodyear inventory has decreased slightly, so have the sales. Our average sales price in the past month was $164,459 (up $7000), 98% of list price and an average square footage of 2285, sold price per square foot was $71.74 which is a slight increase from last month. That’s consistent with the rest of the market. You’re not hearing it, but the bottom has come and gone!

    My colleagues from my office are attending a meeting with the founder of the Cromford report-the ONLY truly accurate real estate data publicly reported. I’ll be posting some stats and other information they bring me. Stay tuned!

-Neal